LATEST THINKING

Analytics is the key to agile, responsive business models that drive true innovation and the competitive advantage.

Overview

By leveraging analytics as a priority capability, auto and industrial manufacturers can improve entire global ecosystems of suppliers, facilities and logistics and respond to shifts in consumer needs and behavior, and to emerging trends in market demand and supply.

Industrial and automotive players are now starting to view analytics much as the leading digital retailers of the world already do: the key to agile, responsive and relevant business models that drive true innovation and competitive advantage.

BACKGROUND

Data, data, everywhere...but how to derive meaningful insights from it?

The answer, as most auto and industrial executives now acknowledge, is analytics: the systematic search for meaning among the mass of "Big Data" generated by the intelligent and connected devices, systems and processes that constitute the Industrial Internet of Things (IIoT).

Accenture research shows that 82 percent of organizations now recognize Big Data as a significant source of value. They also recognize its power to help make their value chains more flexible and customer-centric. Fully 83 percent of automotive executives are planning to move toward real-time enterprise platforms and systems (including analytics platforms), for example, while the personalized customer experience is a Top 3 priority for 86 percent of industrial executives, and the most important priority of all for 33 percent of them.

Their challenge going forward will be to find ways of embedding analytics throughout their enterprises—and fuel profitable growth with the insights thus enabled.

KEY FINDINGS

Production and all related processes are more data intensive than ever, and so have become rich sources of critical insights.

Today's predictive analytics platforms help manufacturers see trends as they develop and thus seize new opportunities as they occur, or even get ahead of them.

Analytics can keep equipment operating, save on warranty costs, and even apply insurance rates more effectively.

A widening talent deficit, operationalization challenges, and applying analytics across an ever-expanding and more complex ecosystem are hindering more widespread adoption of analytics.

Analytics are helping leading auto and industrial companies offer better, more reliable products, enhance the customer experience and generate new revenue opportunities.

Today's predictive analytics platforms help manufacturers see trends as they develop and thus seize new opportunities as they occur, or even get ahead of them.

Analytics can keep equipment operating, save on warranty costs, and even apply insurance rates more effectively.

A widening talent deficit, operationalization challenges, and applying analytics across an ever-expanding and more complex ecosystem are hindering more widespread adoption of analytics.

Analytics are helping leading auto and industrial companies offer better, more reliable products, enhance the customer experience and generate new revenue opportunities.

ANALYSIS

Analytics has evolved into a driver of decision-making: a true business asset. It helps companies receive early feedback about product performance. In addition, analytics help to enhance the customer experience by allowing manufacturers and their supply chain partners to anticipate problems and tackle them proactively.

Masters of analytics are in pole position to provide analytics "as a service" and help drive top-line growth. What's more, thanks to cross-industry collaboration, they don't have to do it alone. Accenture, for example, is working with MIT to fund research into how business analytics can help global companies in six key industries—banking, health, insurance, retail, communications and energy—solve some of their most critical challenges.

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